RealTime IT News

Big Flower Invests in 24/7 Media

Big Flower Holdings Inc. disclosed that it made a strategic investment (dollar figures were not announced) in 24/7 Media Inc., the newly formed Internet advertising network based in New York City.

"We are pleased to be a part of this innovative and powerful new business. We believe that our own operating companies will benefit from this association, and that our customer relationships will be valuable to 24/7," said Theodore Ammon, chairman of Big Flower Holdings.

Big Flower is an advertising and marketing services company with three principal lines of business: targeted advertising inserts and circulation- building newspaper products, customized direct mail and direct marketing, and digital services, including outsourced digital premedia and computer-based management systems for the broadcast industry.

24/7 provides advertising sales and related services for more than 100 Web sites. Clients include AT&T WorldNet, Columbia House, Comedy Central, Reader's Digest, Reuters MoneyNet, Frommer's Travel Guide, Rolling Stone, Modern Bride and Better Homes and Gardens Online.

24/7 Media was formed by the merger of Petry Interactive Inc., Katz Millennium Marketing and Interactive Imaginations Inc. The company will provide an estimated 400 million advertising impressions per month, making it among the largest interactive sales companies.

"We expect that the relationship (with Big Flower) will provide 24/7 with new opportunities to help us in building our business. Laser Tech Color's digital asset archiving systems are attractive to many of our customers who need powerful software to manage images needed for their Web sites. In addition, TC Advertising's Secure-Tran Web Systems offers us an exciting opportunity to expand into retail, a new category of business for our company," said David J. Moore, chief executive officer of 24/7 Media.